Life Insurance Products and Uses

By the end of this online insurance CE course, agents should fully understand:

The need for Life Insurance

The uses, personal and business, for life insurance

Determining how much life insurance to purchase

Ethical considerations including replacement transactions

The major types of life insurance contracts available

The options and variations of these contracts in the marketplace

When to use each of the types of life insurance

Advantages and disadvantages of each type

Provisions, exclusions, conditions, etc. in the standard life insurance policy

Beneficiary designations

Life insurance policy options

Settlement Options

Nonforfeiture Options

Dividend Options

Life Insurance Policy Riders

Pricing and Life Insurance

Taxation of life insurance

Life insurance and financial planning

This insurance continuing education course will help agents to:

Understand and explain to clients the need for life insurance;

Translate that need into an amount and type of coverage that for each client individually;

Explain the various coverage features, benefits and options to the client;

Recommend the proper coverage forms and endorsements for their client’s needs;

Provide better service to their clients; as well as;

Conduct life insurance sales in a lawful and ethical manner.

Alabama State Requirements

Updated: 07/27/2015

Continuing Education Hours

24 hours every two year renewal period, including 3 hours of ethics

Producers or service representatives who do not do outside sales, and who do not hold a nonresident license in any other state, must complete 12 CE hours, including 1.5 hours in ethics, are required every 2-year license term.

Ongoing 4-hour LTC training requirement: After completing the 8-hour initial training requirement, producers must complete 4 hours of state-approved LTC training every 24-month period following the completion of the initial training and every 24-months thereafter.

Adjusters: Beginning in January 2014, adjusters will need to complete 24 CE hours, including 3 hours of ethics, every 2-year license term (see license term below). *There is NO CE required for 2013 renewals. Odd Birth Year Renewals: After renewing the license in 2011, an adjuster born in an odd numbered year will be required to renew their license by the end of the birth month in 2013, but CE will not be required until the end of the birth month in 2015. Even Birth Year Renewals: After renewing the license in 2011, an adjuster born in an even numbered year will be required to renew their license, and must also complete 24 hours CE including 3 hours of ethics by the end of the birth month in 2014.

Title Agents: Beginning in January 2014, Title Agents will need to complete CE every 2-year license term (see license term below). *There is NO CE required for 2013 renewals. Odd Birth Year Renewals: After renewing the license in 2013, Title Agents born in an odd numbered year will be required to renew their license, and must also complete 24 hours CE including 3 hours of ethics by the end of the birth month in 2015. Even Birth Year Renewals: Title Agents born in an even numbered year, will be required to renew their license, and must complete 12 hours CE including 2 hours in ethics by the end of the birth month in 2014. Note: Once CE has been completed and the license renewed for 2014, the regular CE requirement of 24 hours including 3 ethics, will go into effect for all consecutive renewal cycles. Even Birth Year Renewals: Title Agents born in an even numbered year, will be required to renew their license, and must complete 24 hours CE including 3 hours in ethics by the end of the birth month in 2016.

Ongoing 4-hour LTC training requirement: After completing the 8-hour initial training requirement, producers must complete 4 hours of state-approved LTC training every 24-month period following the completion of the initial training and every 24-months thereafter.

Nonresident adjusters who satisfy the adjuster requirement in their resident state or designated home state will be deemed compliant for the Alabama adjuster requirement.

Continuing Education Compliance Date

All continuing education credits must be achieved by the date of the license renewal.

Producers renewal date is the last day of the birth month every two years. Producers with an even numbered date of birth renew every even numbered year; Producers with an odd numbered date of birth renew every odd numbered year.

Types of Courses Accepted for CE Credit

Independent self-study courses and classroom study/seminar.

Final Exam

Self-study final exams are required to be monitored by a disinterested third party (i.e., someone with no financial dependency on the student). Monitor must be someone not needing a license.

Carryover Requirements

A producer may carry over up to 24 excess CE hours into the next license term. Excess ethics hours may carry over as ethics credits in the next license term. No more than 3 hours of ethics may be carried over as ethics.

Exemptions

Nonresident Producers are not required to complete continuing education courses.

Individuals who are at least 60 years of age and have been licensed continuously in Alabama for at least 15 years.

Individuals licensed only for lines of insurance for which a license exam is not required.

Individuals licensed only for automobile physical damage insurance, industrial fire (debit fire) insurance and/or physical damage coverage on household goods, or producers licensed only for lines of insurance for which an examination is not required.

Insurance company officers who are not engaged in the active sale of products.

Individuals licensed less than one year at the time of the first CE compliance date are exempt for that first reporting period.

Temporary license holders pending passage of the written examination for that line of insurance.

Alabama adjusters.

Active members of the Alabama legislature during any portion of the compliance period.

Producers who are exempt from CE, will still be required to complete LTC training. The Federal Law will not allow exemptions for LTC.

Method to Certify Completion

Your certificate will be e-mailed to you within one business day of exam completion. The course provider submits credits earned to the CE administrator within one business day. The course provider keeps reports of credits earned in its files for three years. The license attaches copies of certificates of completion to the license renewal form and keeps the originals in his/her files.

A roster fee of $1.00 per credit hour ordered is required to process course completion hours in Alabama and will be added ot the order total upon checkout.

License Renewal Process

Producer licenses may be renewed as early as two months before the licensee's birth month, and within a grace period of 30 days after the last day of their birth month with a late fee of $50 added to the regular renewal fee. If not renewed before the end of the grace period, the license will be expired.

Adjusters are allowed to renew their license online between October 1st and December 31st with a renewal fee of $80. If your license is not renewed before January 1st, the license will be expired.

Course Format

System Requirements: Please note that Mozilla firefox 20 download here or Internet explorer 9 or higher:Download hereare required to view our website when you wish to access the learning center. You should also note that taking courses over a wireless internet connection is not advised. When taking your exams you should try to be on a wired internet connection to your computer.

This course automatically includes a downloadable textbook and/or other course materials which you may print if you desire. When you are finished studying your course, the exam is taken online and it is graded immediately. In most states you can also print your own certificate of completion, if you pass. There is no additional charge if you complete your course and exam completely online.

If you prefer, however, you may purchase a printed book and/or printed exam at additional cost.

You have 3 options if purchasing the course outside a subscription:

Online book and online exam - included in price - You receive no printed materials-everything is online.

Printed book and online exam - $5 additional - You receive a printed book but take your exam online.

Printed book and printed exam - $10 additional - You receive a printed book and printed exam which you mail or fax to us for grading.

For options 2 and 3, you will be able to choose either regular or express shipping during checkout.

Please choose your option carefully!There is no refund for printed materials or exams ordered by mistake!

If your state requires monitored exams, you must have your monitor sign-in and follow the monitor instructions BEFORE you begin the exam. See the State Information tab, Monitor tab and Help Center for more information.

How to Redeem Vouchers

If you have received a CE voucher from an insurance company or wholesaler, you can redeem it by following these instructions.

Be sure to enter your Voucher Code when checking out to apply your discount.

You will be able to download the study materials immediately by clicking the red "Download Course" on your receipt. It will also be emailed to you and will be available for one year in your customer account.

You will also be provided with a link and information to access the exam.

Your voucher covers an online book, online exam, grading and one CE certificate for insurance. It DOES NOT INCLUDE printed books, printed exams, state fees or CE certificate(s) or reporting for additional designations or types of CE, although they are available as options for additional charge.

If you choose printed books or exams, you will be charged the balance due during checkout.

If your state charges a fee to report your credit, this fee is due from you. When you check-out, you must pay this fee in order to access the course and obtain CE credit.

After you pass your exam, you will be able to purchase CE certificates for professional designations such as CFP, CPE, etc. you will be charged $10 for each one. Please DO NOT order these additional certificates unless you currently hold that professional designation. There are NO REFUNDS for additional certificates ordered and not needed.

Monitor Instructions - General

IMPORTANT!!!

Your state requires that your exam(s) MUST be monitored.

The qualifications of the person who must monitor your exam are explained on the monitor form. The person monitoring your exam must be with you prior to beginning to take the exam. Taking the exam without your monitor present will invalidate your exam results and certificate.

The monitor must print, sign and complete the affidavit found by clicking Printable Monitor Form to indicate that the exam was taken without any outside help from any source. Please fax the completed monitor form to: (619) 421-8171 immediately after completing the exam. Your exam will not be completed, and no CE credit will be awarded or reported to your state, until the properly completed, signed monitor form has been received (along with any state reporting fees that may be due).

Optional PACE or CFP Credit

Many of our Insurance CE courses are also approved for CE credit for agents who hold professional designations such as CLU, ChFC, CFP. The type of CE credit and number of hours approved are listed above in the course description.

If you hold a professional designation you may request a certificate for courses taken and exams passed for insurance CE credit. If you pass and exam and would like to get additional credit for one of these designations, please use the link to the left: "CFP & PACE Credit".

If you do not hold a professional designation and do not need any type of CE other than for your insurance license renewal, please do not order a PACE or CFP certificate. It will not benefit you and once ordered, there are no refunds!